Namibia Securities Exchange to Provide LEIs Africa-wide on pTools LEILex Platform
NSX to issue LEIs Africa-wide on pTools LEILex platform
Dublin/London/Windhoek/Kuala Lumpur (20th November 2024) – Namibia Securities Exchange (NSX) has announced today, at the World Federation of Exchanges General Assembly and Annual Meeting in Kuala Lumpur, its initiative to provide Legal Entity Identifiers (LEIs) across Africa on pTools LEILex platform.
pTools LEILex platform is an LEI affiliate solution launched by pTools Software, the leading provider of Market Information AI automation solutions for Exchanges. Namibia Securities Exchange is one of Africa’s largest exchanges and as a pTools LEILex partner-affiliate, will provide LEIs across the African continent. This is a significant development and represents a first in terms of a continent-wide agreement. pTools LEIlex platform will enable the Namibia Securities Exchange to extend service and provide LEIs in all 54 African countries. The partnership underscores pTools achievement in recent years in helping clients address the ever-increasing requirement for LEIs worldwide and ensure efficient issuance of LEIs for organisations engaging in international trade.
The Legal Entity Identifier (LEI) comprises a 20-character alphanumeric code, adhering to the ISO 17442 standard formulated by the International Organization for Standardisation (ISO). This code serves as a crucial link to essential reference details, facilitating a distinctive identification of legal entities participating in financial activities. Embedded within each LEI is comprehensive ownership structure data, that clarifies the question of 'who is who' and 'who owns whom'.
Tiaan Bazuin, CEO of Namibia Securities Exchange commented, “I am delighted to be partnering with pTools and LEILex to be supplying LEIs to the African market. The NSX has long believed in smart partnerships and see this as the newest in a long line of partnerships. We also believe we can supply LEIs to a broader market than just Namibia and invite other African exchanges to join us in this partnership as we are in a position to extend this partnership to them as well”
Tom Skinner, pTools Managing Director and Chairman commented, “Our work in LEI now extends to more than a decade. The partnership with NSX represents the next important step in a process that sees us helping clients across the planet provide and manage LEIs. This partnership underpins our LEILex initiative and offers an extraordinary opportunity to help develop the provision of LEI across the continent of Africa. I want to thank and to credit Mr. Tiaan Bazuin for his vision and commitment. It is a great joy to work with someone of his calibre and energy and I look forward to our work together in the coming years.”
Keith Wood, CEO at pTools Software added, "This collaboration between pTools LEILex and NSX underscores the importance of establishing a reliable framework for financial operations and LEI and vLEI in Africa, empowering exchanges and businesses alike to adopt the LEI standard. This will not only provide clarity and efficient identification of legal entities but also enhance the integrity of financial transactions throughout the continent. Our role is to underpin the initiative with technology that seamlessly supports NSX and LEI client companies throughout the process from applications requests to company verification and on to renewals. I look forward to working with the team at NSX and see this as just the beginning of our work together”
This partnership will mark a notable advancement in cultivating a secure financial market ecosystem in Africa while emphasizing the vital role and urgency of Legal Entity Identifiers (LEIs) within the sector. Through this partnership, pTools, LEILex and Namibia Securities Exchange aims to streamline the understanding and adoption of LEIs across financial organizations, facilitating the transition to this essential framework in Africa.
For more information, please contact:
Suraj Pandey, Business Development Manager - pTools Software
Email: suraj.pandey@ptools.com
About Namibia Securities Exchange:
The Namibia Securities Exchange (NSX) is the primary Securities exchange of Namibia and second biggest exchange in Africa. It was established in 1992 and was recently awarded the best managed exchange in Africa. It is based in Windhoek, the capital city, and operates under the regulatory oversight of the Namibia Financial Institutions Supervisory Authority (NAMFISA). NSX has a technical partnership with the JSE and is in process of demutualisation and launching CSD with the Central bank. The NSX actively pursues dual listings and focusses on ease of listings to diversify its market as well as deepen it with more local content. In recent years the NSX has added more sectors to their boards through various listings as well as commodity ETFs. The NSX authored and published the Corporate Governance Code for Namibia (“NamCode”) which is applicable to all listed companies. The enhancement of the governance landscape has positively positioned Namibia on the African investment scene and resulted in the deepening of the Namibian capital markets as it opens the market to a larger international investing pool.
The recent discovery of more than 11 Billion barrels of oil offshore has elevated Namibia’s profile. An exciting few years are anticipated. A rising tide raises all boats for the macro economic development as well as the capital markets
NSX plays a crucial role in the country's financial markets by providing a platform for local and international companies to raise capital.
For more about NSX, please visit: https://www.nsx.com.na/
About pTools Software:
pTools is a leading provider of Market Information Services for Securities Exchanges and related organisations including; LOUs, NNAs, CSDs, CBs and Central Banks. pTools provides packaged software, bespoke solutions, outsourced and support services for applications including; LEI and ISIN Issuance, Corporate Actions and Announcements, Sanctions Screening and ESG Validation, Asset Tokenization and Listing. With offices in Dublin, London and Bangalore, pTools clients include London Securities Exchange Group, Qatar Central Bank and Strate South Africa. pTools works across technologies with specific capability in AI and NLP, Blockchain and Notarization, Digital Risk Mitigation/Scoring and Data Quality Management. pTools delivers solutions on-Premise, on-Cloud, and as-a-Service. pTools is a long term partner of WFE, the World Federation of Exchanges and has additional partnerships with global technology providers; GLEIF, LSEG, IBM, AWS and Microsoft.
For more about pTools Software, please visit: https://www.ptools.com/
About LEILex Affiliate Initiative:
The LEILex affiliate initiative, a collaborative effort between pTools and the London Stock Exchange Group, aims to streamline the provision of Legal Entity Identifiers (LEIs) while actively contributing to the enhancement of global financial market security.
Becoming an LEILex affiliate offers an exceptional advantage to our clients as they can swiftly begin providing LEIs within weeks. This streamlined process not only saves costs by eliminating the need for significant IT/infrastructure investments and staffing expenses but also enables clients to more efficiently handle the complexities associated with ensuring data quality and meeting regulatory requirements. With LSEG and pTools providing the necessary support and infrastructure, LEILex affiliates can focus solely on providing LEIs to businesses.
For more about LEILex, please visit: https://www.leilex.com/
